10-14-2009, 05:14 PM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by Spectator</i>
<br />Faisal bhai, If a provision for repairs account is created, Should the balance on the provision be shown as capital reserve or a deferred liability after the purpose has been accomplished ?
Others can also share their knowledge !!!
Yasir
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Dear Spectator,
I have not received any email from you.
As far as your query is concerned, If actual Repair expense exceeds already provided provision, then difference should be shown as expense. However, if actual expense are lesser than provision then provision is to be shown as current liablity unless the same is fully utilised or purpose is ceased.
Regards,
<br />Faisal bhai, If a provision for repairs account is created, Should the balance on the provision be shown as capital reserve or a deferred liability after the purpose has been accomplished ?
Others can also share their knowledge !!!
Yasir
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Dear Spectator,
I have not received any email from you.
As far as your query is concerned, If actual Repair expense exceeds already provided provision, then difference should be shown as expense. However, if actual expense are lesser than provision then provision is to be shown as current liablity unless the same is fully utilised or purpose is ceased.
Regards,
